Vacation may be a time to relax, but don't let your guard down and lose your wallet.
These 10 tips can help protect you from an unexpected loss the next time you travel.
1. Prepare for the unknown.
Travel insurance helps protect your trip against forces beyond your control, such as a hurricane or a death in the family. Travel insurance can make sure you don't pay for a trip you can't take because of unexpected things like weather or health. You can even get exclusive coverage for military deployments from travel insurance programs.
2. Don't advertise your absence.
Announcing your vacation plans on social media or posting beach photos on Instagram or Facebook may let thieves know your home is a prime target. Wait until the vacation is over to share about your trip and be sure your spouse and children do the same.
3. Check your health coverage.
An illness or injury could be devastatingly expensive if it happens overseas. If you're heading outside the U.S., review your health insurance. Check to see if you'll be covered if you get sick or have an accident. Many plans won't cover such costs — including some Medicare supplements. Fill the gap with a travel health insurance policy.
4. Keep an eye on your money.
Set up alerts on your financial apps by text and email. Notify your financial institutions of your travel and keep on the lookout for unusual transactions in your accounts.
Be sure to practice online safety as well. Public Wi-Fi may seem convenient, but make sure to only connect to secure access points with your devices. Your credentials, like your usernames and passwords, could be accessed, putting your accounts at risk. For an extra layer of digital protection, consider if personal cyber insurance is right for you.
5. Make the right rental car move.
Check with your insurer to see how you're covered on your rental car. Typically, if you live in the United States and are renting your car there, your rental may be covered by your personal auto insurance. However, that may not include fees, such as those agencies charge after an accident for not being able to rent the vehicle to another user. Check with your insurance carrier and credit card company to see what coverage they provide. Overseas, you'll generally need to buy protection from the rental car company.
6. Guard your mail and home.
An overflowing mailbox is a sure signal of your absence and gives identity thieves ample material to do mischief. Put in a hold request on your mail and let a trusted neighbor know you'll gone. If you have deliveries that go to your doorstep, you may be able to postpone or redirect your packages to another delivery location like a UPS or FedEx store.
7. Alert your credit card company and bank.
A foreign charge on your credit card may arouse your bank's suspicion, which could prompt it to freeze the account. Let your bank know you're heading out of country. It may be a good idea to contact your bank if you're traveling to another state for a prolonged time as well.
Many banks will consider purchases made outside of your home state as potentially suspicious. Typically, systems are in place to contact you to verify transactions, but if you miss an automated call or text, your debit or credit card could be temporarily frozen.
8. Photograph valuables.
Take a picture of valuable items like cameras, laptops or other electronics, and write down their serial numbers. Keep your inventory in a safe place. This will make it easier to file a claim if the items are lost or stolen.
9. Check your coverage.
Review your insurance policies and check for what is and isn't covered, as well as reviewing your policy limits:
Make sure you're covered if loss occurs while traveling, whether from a home break-in or stolen luggage. If not, consider upping your coverage.
10. Cover all your bases.
Use your vacation as the extra nudge to get your overall financial picture squared away. Get the right financial protection in place in case of the unthinkable with life insurance. Review beneficiaries on accounts and insurance policies. Make sure your legal documents, like wills, guardianship and power of attorneys are established.
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